IT: Where assessee submitted that he had adduced appropriate evidence to explain alleged anomaly in raw material consumption, while revenue claimed that available evidences led to rejection of accounts, matter was to be readjudicated
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[2014] 49 taxmann.com 181 (Calcutta)
HIGH COURT OF CALCUTTA
Commissioner of Income-tax, Asansol
v.
Ramesh Kumar Singhania*
GIRISH CHANDRA GUPTA AND SUDIP AHLUWALIA, JJ.
ITAT NO. 223 OF 2013
GA NOS. 3814 AND 3815 OF 2013†
APRIL 23, 2014
Section 145, read with section 144, of the Income-tax Act, 1961 - Method of accounting - Rejection of accounts (Raw material) - Assessee was engaged in manufacturing of tin cans - Assessing Officer found that there was difference in actual consumption of tins and that shown in books of account and accordingly, rejected books of account and made best judgment assessment - On appeal,
Commissioner (Appeals) reversed order of Assessing Officer on basis of assessee's submission that there was no misrepresentation and Assessing Officer's calculation of shortage of tin cans had ignored fact that payment was made a day after tins were received - Tribunal upheld order of Commissioner (Appeals) - However, revenue submitted that order was reversed without giving sufficient reasons or evidence and finding arrived at by Assessing Officer on basis of evidence could not be set aside without disclosing satisfactorily that finding arrived at was either by ignoring evidence or on basis of misappreciation of evidence - On other hand Assessee submitted that he had adduced appropriate evidence to show that aforesaid anomaly was arrived at on basis of wrong appreciation of facts and circumstances of case - Whether in view of above, matter was to be remanded to Assessing Officer for fresh adjudication. - Held, yes [Paras 4 to 6] [Matter remanded]
Ms. Nilanjana Banerjee for the Appellant. R. Bharadwaj for the Respondent.
■■■
[2014] 49 taxmann.com 181 (Calcutta)
HIGH COURT OF CALCUTTA
Commissioner of Income-tax, Asansol
v.
Ramesh Kumar Singhania*
GIRISH CHANDRA GUPTA AND SUDIP AHLUWALIA, JJ.
ITAT NO. 223 OF 2013
GA NOS. 3814 AND 3815 OF 2013†
APRIL 23, 2014
Section 145, read with section 144, of the Income-tax Act, 1961 - Method of accounting - Rejection of accounts (Raw material) - Assessee was engaged in manufacturing of tin cans - Assessing Officer found that there was difference in actual consumption of tins and that shown in books of account and accordingly, rejected books of account and made best judgment assessment - On appeal,
Commissioner (Appeals) reversed order of Assessing Officer on basis of assessee's submission that there was no misrepresentation and Assessing Officer's calculation of shortage of tin cans had ignored fact that payment was made a day after tins were received - Tribunal upheld order of Commissioner (Appeals) - However, revenue submitted that order was reversed without giving sufficient reasons or evidence and finding arrived at by Assessing Officer on basis of evidence could not be set aside without disclosing satisfactorily that finding arrived at was either by ignoring evidence or on basis of misappreciation of evidence - On other hand Assessee submitted that he had adduced appropriate evidence to show that aforesaid anomaly was arrived at on basis of wrong appreciation of facts and circumstances of case - Whether in view of above, matter was to be remanded to Assessing Officer for fresh adjudication. - Held, yes [Paras 4 to 6] [Matter remanded]
Ms. Nilanjana Banerjee for the Appellant. R. Bharadwaj for the Respondent.
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